JSE EQUITIES ISSUER FEE SCHEDULE

Transcription

1 JSE EQUITIES ISSUER FEE SCHEDULE 2019

2 Fee Schedule 2019 Strate consolidates pertinent information received or obtained in public announcements, annual reports or circulars in respect of local meeting notifications; local meeting; CORPORATE EVENT MEETING NOTIFICATION FEE (DOMESTIC) and the s appointed Transfer Secretary of their uncertificated holdings as at the meeting record date; Strate follows up in order to collate R R and reconcile the submitted votes which include proxies and letters of representation; Strate follows up and notifies the CSD Participants and the Exchange of the meeting results; and Strate updates the corporate event diary which is maintained by the CSD. is processed and is charged CORPORATE EVENT MEETING NOTIFICATION AND PROCESSING FEE (FOREIGN) Strate consolidates pertinent information received or obtained in public announcements, annual reports or circulars in respect of local meeting notifications; R R

3 foreign meeting; and the s appointed Transfer Secretary of their uncertificated holdings as at the meeting record date; Strate follows up and notifies the CSD Participants and the Exchange of the meeting results; Strate collates all voting instructions from CSD Participants and Brokers; Strate reconciles the record date holdings against voting instructions received; Strate issues Letters of Representation and/or Proxy Forms; Strate completes the Proxy Form representing all votes received from Participants; and Strate advises the meeting results. is processed and is charged. Strate extracts pertinent information from public announcements, annual reports or circulars in respect of the CORPORATE MANDATORY CASH R R

4 and the s appointed Transfer Secretary of their uncertificated holdings and cash entitlement as at the record date of the corporate event; Strate notifies the to fund via the central bank on payment date with the total cash entitlement in respect of the uncertificated holdings; and Strate manages the distribution of the funds to the relevant CSD Participants for onward distribution to the uncertificated holders. is processed and is charged. Strate extracts pertinent information from public announcements, annual reports or circulars in respect of the CORPORATE MANDATORY SECURITIES and the s appointed Transfer Secretary of their uncertificated holdings and security entitlement as R R at the record date of the corporate event; Strate updates the CSD Participants custody securities accounts with the new entitlements on the payment date of the and 4

5 Strate manages the distribution of the new security entitlements to the relevant CSD Participants for onward distribution to the uncertificated holders. is processed and is charged. Strate extracts pertinent information from public announcements, annual reports or circulars in respect of the CORPORATE MANDATORY CASH AND SECURITIES and the s appointed Transfer Secretary of their uncertificated holdings and their cash and security entitlement as at the record date of the Strate updates the CSD Participants R R custody securities accounts with the new entitlements on the payment date of the Strate manages the distribution of the new security entitlements to the relevant CSD Participants for onward distribution to the uncertificated holders; Strate notifies the to fund via the central bank on payment date with the total cash entitlement in respect of the uncertificated holdings; and 5

6 Strate manages the distribution of the funds to the relevant CSD Participants for onward distribution to the uncertificated holders. is processed and is charged. Strate extracts pertinent information from public announcements, annual reports or circulars in respect of the Strate manages the election instructions received from CSD Participants and reconciles these CORPORATE MANDATORY EVENT WITH 2 OPTIONS against the uncertificated holdings on the election deadline date; and the s appointed Transfer Secretary of their uncertificated holdings and elections relating to R R cash and security entitlements as at the record date of the corporate event; Strate updates the CSD Participants custody securities accounts with the new entitlements on the payment date of the Strate manages the distribution of the new security entitlements to the relevant CSD Participants for onward distribution to the uncertificated holders; 6

7 Strate notifies the to fund via the central bank on payment date with the total cash entitlement in respect of the uncertificated holdings; and Strate manages the distribution for the funds to the relevant CSD Participants for onward distribution to the uncertificated holders. is processed and is charged per number of options CORPORATE See previous description. MANDATORY EVENT WITH 3 OPTIONS is processed and is charged per number of options. R R CORPORATE MANDATORY EVENT MORE THAN 3 OPTIONS WITH CASH See previous description. is processed and is charged per number of options. R R This fee is charged for Strate services rendered prior to the s withdrawal CORPORATE WITHDRAWAL of the event and for Strate notifying the CSD Participants, Transfer Secretaries and the Exchange of the withdrawal. R R CHARGE is withdrawn and is charged CORPORATE ALLOTMENT (INCREASE OR DECREASE) The fee is charged by Strate for updating its system as a result of the placement of new or additional securities into the market, or withdrawing issued securities from the market. The increase or decrease has an impact on the Master R per allotment R per allotment 7

8 File Information against which the reconciliation by the Participants and the Exchange takes place daily. The fee arises when the instruction to increase or decrease the amount per security is processed and is charged per update. Strate extracts pertinent information from public announcements, annual reports or circulars in respect of the Strate manages the election instructions received from CSD CORPORATE VOLUNTARY EVENT WITH 1 OPTION Participants and reconciles these against the uncertificated holdings on the election deadline; and the s appointed Transfer Secretary of their uncertificated R R holdings and elections relating to cash and security entitlements as at the record date of the corporate event; and Strate updates the CSD Participants custody securities and cash accounts with the new entitlements on the payment date of the corporate event. is processed and is charged per number of options. 8

9 10817 CORPORATE See previous description. VOLUNTARY EVENT WITH 2 OPTIONS is processed and is charged per number of options. R R CORPORATE See previous description. VOLUNTARY EVENT WITH 3 OPTIONS is processed and is charged per number of options. R R CORPORATE VOLUNTARY EVENT MORE THAN 3 OPTIONS WITH CASH See previous description. is processed and is charged per number of options. R R Strate extracts pertinent information from public announcements, prospectus or circulars in respect of the INITIAL PUBLIC OFFERING Strate manages the election instructions received from CSD R R Participants on the election deadline date; and Strate updates the CSD Participants custody securities and cash accounts with the new entitlements on the payment date of the corporate event. is processed and is charged. 9

10 Note: In the event that the requests the processing of the initial public offerings outside the mandated settlement cycles, the will be charged an additional administration fee. Strate extracts pertinent information from public announcements, prospectus or circulars in respect of the Strate manages the allocation PRIVATE PLACEMENTS process on behalf of the ; and Strate updates the CSD Participants custody securities and cash accounts with the new entitlements on the R R payment date of the corporate event. is processed and is charged. Note: In the event that the requests the processing of private placements outside the mandated settlement cycles, the will be charged an additional administration fee CORPORATE ADMINISTRATION FEE This fee is levied to the for the late funding of their cash account which has resulted in the Strate Corporate Actions team to re-process the payment. R R

11 Strate extracts pertinent information from public announcements, prospectus or circulars in respect of the EXCHANGE TRADED FUNDS INITIAL LISTING Strate manages the election instructions received from CSD R R Participants on the election deadline date; Strate updates the CSD Participants custody securities and cash accounts with the new entitlements on payment date of the corporate event. is processed and is charged. The fee is charged for the daily maintenance and recording of all information required in respect of their securities as accurate Master File Information is essential. The activities include the following: BI-ANNUAL REVIEW OF ISSUER CLIENT MASTER FILE INFORMATION Verification of information against external data; Verification of issued security capital; and Validation of the static data, R per ISIN R per ISIN e.g. Company Registration Number, Tax Registration Number, etc. The fee arises as a result of the ongoing maintenance and recording of the information and is charged bi-annually in advance per ISIN. 11

12 The Register Administration Fee covers each individual electronic book entry movement (both sales and purchases) on the security register that occur in the dematerialised environment. Historically, the administration of an s security register involved the completion of CM42 transfer forms and the subsequent registration out of the name of the seller and into the name of the buyer in the company s securities register. Due to settlement delays and the one sale of securities bought, this process was often ineffective, inaccurate and costly for s and Investors alike REGISTER ADMIN LESS THAN 9001 The dematerialisation of securities in South Africa addressed several inefficiencies and risks, including the introduction of electronic security R 0.81 per trade R 0.93 per trade register which provides s with accurate and up-to-date information about their security holders. This process brings many advantages of efficiency and transparency to the s. The Register Administration Fee is calculated using the number of trades executed on a particular s securities, as this directly affects the number of electronic book entries that must be made on the uncertificated register. In instances where the number of trades exceeds , a lower fee is applied REGISTER ADMIN BETWEEN 9001 AND See previous description. R 0.64 per trade R 0.74 per trade 12

13 17020 REGISTER ADMIN EXCEEDING See previous description. R 0.57 per trade R 0.66 per trade This fee is charged for the provision of information to s detailing specific information relating to the holders of BENEFICIARY DOWNLOAD (ALSO APPLICABLE TO WARRANTS) their securities. The information is provided in a format which allows flexibility to the or Agent in performing their own analysis of the data. R per ISIN R per ISIN The fee arises when the BND monthly report is produced and is charged per ISIN DATA SALES (AD HOC BENEFICIARY DOWNLOAD) This fee is charged for the provision of specific information in respect of holders of securities to parties who are entitled to the information. Various types of information are provided in a format which allows flexibility to the entitled party in order to perform their own analysis of the data. Recipient R 1.35 per line with a minimum fee of R and a maximum fee of R per market participant, R 1.55 per line with a minimum fee of R and a maximum fee of R per market participant, The fee arises upon request of such information and is charged per line with a minimum and maximum fee plus the Strate processing fee. plus the Strate processing fee of R plus the Strate processing fee of R To enhance the value of the statutory beneficial download, Strate also provides a number of variations of the DATA SALES (OTHER REPORTS) report which enables the recipient to better analyse the breakdown or makeup of the shareholder base. Recipient Fee on request Fee on request These reports include: 13

14 Comparison of Holdings (between either the weekly or monthly disclosure); Top Beneficial Owners and Top Registered Holders (i.e. Bank, Broker and Approved Nominees), including the percentage of the issued shares (certificated and dematerialised) which is held by each dematerialised shareholder; Breakdown between Resident and Non-Resident shareholders; and dematerialised Summary of Shareholders by Country. The fee arises upon request of such information and is charged per report TRADE SETTLEMENT DETAILS This fee is charged for the provision of settlement information for securities traded on the Exchange, within a specified period to parties who are entitled to the information. The fee arises upon request of such Recipient R per trade (minimum of 10 trades) R per trade (minimum of 10 trades) information and is charged per trade. and the Exchange of the salient WARRANTS EXPIRY IN THE MONEY information pertaining to the of their uncertificated holdings and cash entitlement as at the record date of the R per warrant R per warrant Strate notifies the to fund via the central bank on payment date with the total cash entitlement in 14

15 respect of the uncertificated holdings; and Strate facilitates and manages the distribution of the funds to the relevant CSD Participants (settling banks) for onward distribution to the uncertificated holders and updates the master file information. is processed and is charged per warrant. and the Exchange of all the salient information pertaining to the WARRANTS EXPIRY OUT THE MONEY of their uncertificated holdings and security entitlement as at the record date of the Strate updates the CSD Participants R per warrant R per warrant custody securities accounts on payment date of the corporate event and updates the master file information. is processed and is charged per warrant. and the Exchange of the salient WARRANT ROLL-OVER FEE information pertaining to the R per warrant R per warrant of their uncertificated holdings and their cash and security entitlement as at the record date of the corporate event; 15

16 Strate updates the CSD Participants custody securities accounts with the new entitlement on payment date of the corporate event and updates the master file information; Strate manages the distribution of the new security entitlements to the relevant CSD Participants for onward distribution to the uncertificated holders; Strate notifies the to fund via the central bank on payment date with the total cash entitlement in respect of the uncertificated holdings; and Strate facilitates and manages the distribution of the funds to the relevant CSD Participants (settling banks) for onward distribution to the uncertificated holders and updates the master file information. is processed and is charged per warrant. Strate creates and records all information required in respect of a new security as accurate Master File NEW WARRANT FEE Information is essential; and Strate manages the creation of the R per warrant R per warrant uncertificated holdings. The fee arises when a new security is created and is charged as a once-off fee per warrant PRIVATE PLACEMENT ALLOTMENT FEE Strate advises Market Participants of the new ISIN and requests the Helpdesk to load on MFA; R R

17 Strate, where applicable, sends onboarding forms to new s; and Strate allots the new issue of shares on listing date FOREIGN INCORPORATED CO- NOMINEE ADMIN FEE The fee is charged for the daily administration in respect of the branch register of foreign incorporated companies. R per month R per month The fee is charged for the work done by Strate in creating and recording all NEW ISIN FEE information required in respect of a new security as accurate Master File Information is essential. R per ISIN R per ISIN The fee arises when the new security is created and is charged as a once-off fee per ISIN. Fees are charged in arrears unless otherwise specified. 17